Guideline Value for Mullai Nagar Extn I

Mullai Nagar Extn I guideline value

The current guideline value of Mullai Nagar Extn I is Rs 2,200 per sq.ft. This area is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Mullai Nagar Extn I has changed

The guideline value for Mullai Nagar Extn I has seen revisions over the years. The earliest recorded revision was in 2012, where the guideline value was set at Rs 2,000 per sq.ft. Following this, the most recent revision in 2024 has increased the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the 2012 figure.

It is important to note that the register has no figures for the years 2002, 2003, 2007, 2017, and 2023 for this street. Therefore, the only figures available are from the 2012 and 2024 revisions.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO that have a guideline value for 2024, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, which means that the guideline value of Mullai Nagar Extn I is below this median.

• Mullai Nagar Extn Cross Street: Rs 2,200 per sq.ft (2024)
• Mullai Nagar Extn II: Rs 2,200 per sq.ft (2024)
• Mullai Nagar Extn: Rs 2,200 per sq.ft (2024)
• Mullai Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Mullai Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Mullai Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Nagar Extn I

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty is charged at 7%, which totals Rs 1,54,000, and the registration fee at 2% amounts to Rs 44,000. Together, the total cost for these fees is Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mullai Nagar Extn I?

The Sub Registrar Office that covers Mullai Nagar Extn I is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madambakkam

The guideline value is a crucial factor in property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the sale process.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that all transactions are recorded accurately and transparently, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Mullai Nagar Extn I?

The current guideline value of Mullai Nagar Extn I is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, which is a 10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What is the median guideline value in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft. The guideline value of Mullai Nagar Extn I is below this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 at 7%, and the registration fee is Rs 44,000 at 2%. The total cost for these fees is Rs 1,98,000.

Where is the Sub Registrar Office for Mullai Nagar Extn I located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles registrations for properties in Mullai Nagar Extn I.